The problem is about simple interest.

Given that a sum of money becomes 3 times in 12 years, this means that the interest accrued over 12 years is twice the original sum.

Let's denote the original sum as P. The interest accrued over 12 years is 2P.

In simple interest, the interest is directly proportional to time. So, if 2P interest takes 12 years, 1P interest will take 12/2 = 6 years.

Now, if we want the sum to become 5 times, the interest accrued should be 4P.

Using the same proportion, 4P interest will take 4 * 6 = 24 years.

So, the correct answer is 24 years.

Question

The problem is about simple interest.

Given that a sum of money becomes 3 times in 12 years, this means that the interest accrued over 12 years is twice the original sum.

Let's denote the original sum as P. The interest accrued over 12 years is 2P.

In simple interest, the interest is directly proportional to time. So, if 2P interest takes 12 years, 1P interest will take 12/2 = 6 years.

Now, if we want the sum to become 5 times, the interest accrued should be 4P.

Using the same proportion, 4P interest will take 4 * 6 = 24 years.

So, the correct answer is 24 years.

Knowee AI · Accepted Answer

The problem is about simple interest.

Given that a sum of money becomes 3 times in 12 years, this means that the interest accrued over 12 years is twice the original sum.

Let's denote the original sum as P. The interest accrued over 12 years is 2P.

In simple interest, the interest is directly proportional to time. So, if 2P interest takes 12 years, 1P interest will take 12/2 = 6 years.

Now, if we want the sum to become 5 times, the interest accrued should be 4P.

Using the same proportion, 4P interest will take 4 * 6 = 24 years.

So, the correct answer is 24 years.

Select the correct answerA sum of money becomes 3 times in 12 years. In how many years it will become 5 times at the same rate of simple interest?Options24 years16 years20 years30 years